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Last week, we discussed how a credit reporting time limit is measured and how this time limit relates to your credit items.  It is important to remember that credit reporting time limits and statute of limitations are both factors considered with individual items, but they measure different...

Consumers often confuse statute of limitations with the credit reporting time limit. These are two different time frames related to your debts and will each have a different effect. Today we will cover credit reporting time limitations. A credit reporting time limit is the maximum amount of time...

What is a 1099-C? A 1099-C is used to report Cancellation of Debt Income. The lender is supposed to file the 1099-C when it cancels $600 or more of debt. A copy is filed with the IRS and another copy is required to be mailed to the taxpayer as...